Stocks to watch: Keppel Reit, Sheng Siong, Clint, Far East Hospitality Trust, CDLHT
THE following companies saw new developments that may affect trading of their securities on Tuesday (Jul 30):
Keppel Real Estate Investment Trust (Reit): Its manager on Tuesday announced a 3.4 per cent year-on-year decrease in distribution per unit (DPU) of S$0.028 for the half year ended June. Distributable income for the period dropped 1.9 per cent to S$106.9 million, despite net property income rising 7.7 per cent to S$96.8 million on the year. The counter closed Monday up 0.6 per cent or S$0.005 at S$0.88.
Sheng Siong : The supermarket chain posted a 7 per cent increase in net profit to S$69.9 million for the first half ended Jun 30, from S$65.4 million the year before. Revenue grew 3.4 per cent year on year to S$714.2 million, driven by a longer sales period before Chinese New Year, Sheng Siong said on Monday. Its shares closed flat at S$1.50, before the announcement.
CapitaLand India Trust (Clint): The trust’s DPU increased 8.3 per cent to S$0.0364 for the half year ended Jun 30, thanks to growing rental income and occupancy. Its total property income rose 23.2 per cent to S$136.1 million, while net property income was up 20.9 per cent at S$103.5 million. Income to be distributed increased 10.7 per cent to S$48.7 million. Units of Clint ended Monday at S$1.06, up 1.9 per cent or S$0.02.
Far East Hospitality Trust (FEHT): The hospitality stapled group’s distribution per stapled security rose 2.1 per cent year on year to S$0.0196 for the first half ended June. Distribution to stapled security holders rose 2.7 per cent year on year to S$39.5 million. On Tuesday, its manager attributed this to higher net property income and distribution of other gains. Stapled securities of FEHT closed 1.6 per cent or S$0.01 higher at S$0.635 on Monday.
CDL Hospitality Trusts (CDLHT): The group’s net property income for the first half ended Jun 30 rose 5.9 per cent to S$66.5 million, from S$62.9 million in the year-ago period. Higher interest costs weighed on the group’s distribution per stapled security, which was unchanged from the previous year. Units of CDLHT ended 0.5 per cent or S$0.005 higher at S$0.975 on Monday.
CapitaLand China Trust (CLCT): The Reit’s DPU slid 19.5 per cent to S$0.0301 for the first half ended Jun 30, from S$0.0374 in the corresponding year-ago period. This was due to reduced revenue from its logistics park portfolio and lower contributions from the divested CapitaMall Shuangjing. Units of CLCT ended flat at S$0.68 on Monday.
Starhill Global Reit : It posted a DPU of S$0.0185 in the second half ended Jun 30, down 6.6 per cent from the same period the year before. The manager on Monday attributed the drop to weaker foreign currencies, higher net finance costs and taxes, as well as a one-off leasing commission fee for its master lease with Toshin Development Singapore at Ngee Ann City. Units of Starhill Global Reit closed flat at S$0.49 on Monday.
Samudera Shipping : The mainboard-listed container shipping company on Monday posted a 68.7 per cent drop in net profit to US$20.9 million for its first half ended Jun 30, from US$66.7 million in the corresponding year-ago period. Revenue sank 27.1 per cent to US$223 million, the company said. Its shares closed at S$0.995 on Monday, down 0.5 per cent or S$0.005.
Lippo Malls Indonesia Retail Trust (LMIRT): The trust posted a 9.2 per cent drop in net property income to S$29.4 million for the second quarter ended Jun 30, amid a challenging interest rate and foreign exchange rate environment. The trust withheld distributions to unitholders and perpetual securities holders in the quarter, as it has done in recent quarters. Units of LMIRT ended flat at S$0.02 on Monday.
